Here's How Digital Transition Will Change Future Businesses
- BY Jaspreet Kaur
Feature Writer, BusinessEx
- Mar 05,2021
- 12 Mins Read
The outbreak has disrupted people's lives as well as businesses across the globe. Surge in the Coronavirus has resorted to companies working remotely, in turn, creating a new normal. In this new phase, business companies are being thrusted to swiftly transit and keep up with the changing environment. The transition is comparatively easier for companies that have been investing into digitalisation while other organisations are striving to embrace cloud platforms.
It is indeed proven that amalgamating services or products along with technology will help survive companies in the present and future world. According to the report, “A New Order Out Of Chaos-Building A Future Ready Organisation,” 60 per cent of global enterprises fast-tracking their digital projects. The report states how organisations are rapidly developing to attain competitive edge in the industry. NASSCOM along with Avasant have concertedly created this report and studied variations in the business models and their digital transition.
In the changing business scenario, a slew of trends have emerged that companies adopting digitalisation should put in the practice.
To run the business effectively in the new normal, it is paramount for companies to focus on customers and consider their perspective. Contemplating customers' behaviour and preferences will help create better strategies and business opportunities. This will also become an important part of a firm's digital journey.
The crisis has substituted the workplace's environment with home or closed spaces. Therefore, it becomes daunting to maintain integrity, decorum and productivity of the workforce. By working from home, segregating work from home chores becomes difficult. According to Nasscom's report, 66 per cent enterprises indicate preparing for a hybrid or blended workforce.
For adjoining the two sides, companies have to dwell into technology and formulate ways to keep employees engaged. Reducing distraction has to be the foremost strand while establishing a tech system for employees' coordination.
Enhance Customer Experience
As per the cited report, the companies are looking to develop delivery models to enhance customer experience. In today's world, companies have to offer seamless experience to the customers in order to stay connected. To augment their overall experience, the companies not only have to augment delivery models and infuse into the technology.
For that, they have to concentrate on two areas--cloud and cybersecurity. These areas will accelerate a digital enterprise and meanwhile, preserve it from online frauds. Thus, this two-sided approach will offer acceleration without pitfalls.
In the last few months, capital infusion has tremendously increased in the digital realm. Large companies have realised the potential of digital space thus, adopting it for better stabilisation. Determining the lockdown phase in India, managing business operations had become difficult for companies. Owing to this, an imminent switch to digitalisation was required.
To avoid such adversity in future, it is vital for companies to make digital investments. Companies will be getting a new shape, as well as new business opportunities, since they venture into the digital realm.
Every company that is venturing into the virtual environment has to adopt these trends. These aspects will soon become important constituents of the future enterprises. If you know more trends that can expedite companies, then share with us in the comment section below.
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